The
Sovereign Development and Investment Fund will be managed by the
Ministry of Finance, and ministries who have managed the fund
companies so far, will retain certain coordination prerogatives,
Energy Minister Toma Petcu said in a conference quoted by Agerpress.

"Through
the governing programme, one of the strategic objectives is the
sovereign investment fund, important for Romania's economic
development, which will be an economic development engine. In my
opinion, all companies, not just in the field of energy, because we
are talking about a general investment fund, all profitable companies
that have strong capitalization in any field should be in this fund,
depending on the communication we will have with the European
Commission and based on the decisions regarding competition, so as
not to cause problems," the minister said.

He
pointed out that during the Friday's Government meeting, the fund was
introduced for the first time, following that the Government ask the
European Commission's opinion on this project.

"The
sovereign fund, because it is an investment fund, must be with the
Ministry of Finance, as the Ministry of Finance must manage this
money. All the assets, the entire Romanian state patrimony, are
generally managed by the Ministry of Finance, and consequently, it
should be with the Ministry of Finance," Petcu answered, when
asked who will manage the fund.

At
the same time, he highlighted that the relevant ministries will
continue to have certain competencies in company coordination.

The
bill on the Sovereign Development and Investment Fund (FSDI) will be
drafted by September and sent to Parliament to be adopted, Prime
Minister Mihai Tudose said on Friday.

In
his turn, Economy Minister Mihai Fifor said that the FSDI is "the
core element" of the 2017 - 2020 ruling programme.

"This
fund is an economic boost measure through which, after the capital
from the domestic and international market is drawn, financing
sources will be set up for the profitable, sustainable investment
projects, that will result into a leverage effect in the economy,
leading to development, in parallel with growth in budget revenues.
The idea of creating the fund was also agreed by the European and
international bodies," Fifor added.

According
to him, the FSDI will be a single shareholder company - the Romanian
state, throughout its functioning.

"The
aim of the Sovereign Development and Investment Fund is to finance,
from own sources and funds drawn, profitable and sustainable
investment projects in various economic sectors. Financing will come
from revenues obtained from dividends cashed from the fund's
companies, from those resulted from operations with own financial
instruments and those issued by other entities, from incomes coming
from the sale pf stock from its own portfolio, from loans - bond
issues included - and other sources," Fifor specified.